Top 4 Reasons to Get Term Life Insurance

Aug. 16, 2019

Having a solid financial plan is almost always recognized as one of the top ways to prepare for the future. And one of the easiest ways to set yourself up for financial success is to invest in a life insurance policy that can protect you and your loved ones in the event of the unexpected.

With affordable premiums, having a trusted agent to help you through the process, and no medical exams, getting life insurance is now easier than ever before.

If you are still on the fence about getting life insurance, read on to discover four ways that a term life insurance policy can help you prepare a smart financial plan for your future.

It’s an easy way to protect what matters most

While none of us enjoy thinking about our end-of-life plans, it’s important to consider what would happen to your loved ones if you were to pass away unexpectedly. Whether you are married or single, you will likely leave behind some unpaid debts if tragedy were to strike. Rather than leaving your loved ones to face these costs on their own, term life insurance provides a lump sum of cash to cover these expenses upon your passing.

With term life insurance, you can protect your loved ones from financial burden. Even more, they could have additional money to help cover items that you might have been saving for, like a child’s college tuition or a new home.

It’s affordable

Did you know that life insurance is way more affordable than most people think? According to a study by LIMRA ,  44 percent of Millennials overestimate the cost of life insurance at five times the actual amount.

Term life insurance is the best and most affordable option for most people. This policy covers a certain period (usually the amount of time you have dependents or outstanding debts) and if you pass away while the policy is active, your chosen beneficiary will receive a lump sum.

A healthy 30-year-old male can generally expect to pay around $30 a month for a $500,000 policy lasting 20 years. When you break that down, you’d spend less on life insurance each day than you would for a latte! Keep in mind that this example is simply an estimate, as your individual rate will be based on factors related to your age, health and lifestyle at the time you apply for coverage.

You can set aside funds to cover funeral costs

When you add the cost of funeral expenses such as preparation, burial, flowers and the funeral service, the total cost can run upwards of $10k. Instead of leaving these debts behind, you can cover these costs (and more) with term life insurance benefits.

You’ll gain peace of mind

None of us can predict when tragedy might strike, but having a plan in place can provide much-needed peace of mind about your future.

Life insurance gives you the freedom to know that your loved ones will not have to stress or suffer a financial burden after your passing. And with affordable rates, customized plans and a simple process to get coverage, getting life insurance is one of the easiest and most secure ways to protect your future.

Want to learn more? Connect with a Symmetry Agent today to achieve peace of mind with life insurance that’s custom-fit to your unique needs. Let’s get started - Request a Free Quote today!

 

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